Many of the guys who defused the public outrage over AIG bonuses by promising to give back the money have turned out to be exactly as bad as you thought they were.
Washington Post: As the final days of 2009 tick away, a majority of that money remains unpaid. Only about $19 million has been given back, according to a report by the special inspector general for the government’s bailout program.
Some of the employees who had offered to return their bonuses have instead left the company, taking their cash with them.
Others remain at Financial Products but are also holding on to their money until they see what Kenneth R. Feinberg, the Obama administration’s “compensation czar,” decides about whether they should get future bonus payments they have also been promised. Feinberg, AIG and government officials have been involved in ongoing negotiations over the status of past and future bonuses at the insurance giant.
Business Insider Emails & Alerts
Site highlights each day to your inbox.